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Concept explainers
In a purely competitive market, the price of a good is naturally driven to the value where the quantity demanded by consumers matches the quantity made by producers, and the market is said to be in equilibrium. These values are the coordinates of the point of intersection of the supply and demand curves.
(a) Given the demand curve
(b) Find the consumer surplus and the producer surplus when the market is in equilibrium. Illustrate by sketching the supply and demand curves and identifying the surpluses as areas.
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Chapter 8 Solutions
Calculus: Early Transcendentals
- 3. Find the derivative of each function. Label with appropriate derivative notation showing both dependent and independent variables. f(t)=4t(2t⭑+4)³ a. f(t)=4t (2t+4)³ (Answer must be factored.) b. y= 3 1 (2x³-4) 6arrow_forward4.3 The Chain Rule 1. {Algebra review} Let f(x)=2x²-5 x and g(x)=6x+2. Find f[g(−5)]. 2. {Algebra review} Write h(x)=√√8x-3 as the composite of two functions f(x) and g(x). (There may be more than one way to do this.)arrow_forward4.4 Derivatives of Exponential Functions 1. Find derivatives of the functions defined as follows. a. g(t)=-3.4e b. y=e√x c. f(x)=(4x³+2)e³* d. y=- x²arrow_forward
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- 2. Find the equation of the line tangent to the graph of f(x)=ln(x²+5) at the point (-1, In 6). Do not approximate numbers.arrow_forward6. The number of viewers of a television series introduced several years ago is approximated by N(t)=(60+2t2/3,1arrow_forwardsolve please, thank youarrow_forwardplease solve, thank youarrow_forwardplease solve, thank youarrow_forwardEvaluate the definite integral using the given integration limits and the limits obtained by trigonometric substitution. 14 x² dx 249 (a) the given integration limits (b) the limits obtained by trigonometric substitutionarrow_forwardarrow_back_iosSEE MORE QUESTIONSarrow_forward_ios
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